Hyundai Motor Company, South Korea

Hyundai Motor Company

Hyundai is a multinational automobile company established since 1947 by “Chung Ju-yung”. The company headquartered in Seoul, South Korea, initially was a construction firm and Chung was directly in control of the company until his death in 2001. Later Hyundai manufactured some products such as Engines, commercial vehicles and automobiles. The company total assets measured at 125.6 billion US$ in 2014 and company revenue 76 billion US$ in 2014. There are about 75,000 employees working from around the world. Hyundai vehicles are sold in more than 193 countries by 6,000 dealerships and showrooms globally. Hyundai sold over 4.4 million vehicles internationally since 2012. Its popular models contained midsize sedans, the Sonata and Elantra.

History

1947- 1990s :

The Chung Ju-Yung founded the Hyundai Engineering and Construction Company in 1947. Hyundai Motor Company was later established in 1967. The first model, the Cortina, was released in cooperation with Ford Motor Company in 1968. In 1975, the Pony, the first Korean car, was released, with styling by Giorgio Giugiaro of ItalDesign and powertrain technology provided by Japan's Mitsubishi Motors. Exports began in the following year to Ecuador and soon thereafter to the Benelux countries.

In 1984, Hyundai exported the Pony to Canada, sales greatly exceeded expectations, and it was the top-selling car on the Canadian market. In 1985, the one millionth Hyundai car was built.

In 1986, Hyundai began to sell cars in the United States, and the Excel was nominated as "Best Product #10" by Fortune magazine, largely because of its affordability. The company began to produce models with its own technology in 1988, beginning with the midsize Sonata. In the spring of 1990, aggregate production of Hyundai automobiles reached the four million mark.

1990s -2000s :

In 1991, the company succeeded in developing its first proprietary gasoline engine, the four-cylinder Alpha, and also its own transmission, thus paving the way for technological independence.

In 1996, Hyundai Motor India Limited was established with a production plant in Irungattukottai near Chennai, India.

In 1998, Hyundai began to overhaul its image in an attempt to establish itself as a world-class brand. Chung Ju Yung transferred leadership of Hyundai Motor to his son, Chung Mong Koo, in 1999. Hyundai's parent company, Hyundai Motor Group, invested heavily in the quality, design, manufacturing, and long-term research of its vehicles. It added a 10-year or 100,000-mile (160,000 km) warranty to cars sold in the United States and launched an aggressive marketing campaign.

In 2004, Hyundai was ranked second in "initial quality" in a survey/study by J.D. Power and Associates. Hyundai is now one of the top 100 most valuable brands worldwide.

Logo and Brand

The word “Hyundai” is the Korean 現代 (“hanja”), which means “modernity.” ... The Hyundai (pronounced Hyun-day) Engineering & Construction company was founded in 1947 by Chung Ju-yung and the automotive branch was established in December 1967.

Regional Operation countries

Hyundai Electric & Hybrid Vehicles

In 1988, Hyundai Motor established FFVs. The test vehicle was 1991 MY Scoupe FFV. The first pure electric car produced by Hyundai was the Sonata Electric Vehicle since 1991, after sometime Hyundai manufactured electric vehicles exploit the Excel, Grace, Accent, Atos and Kia Sportage platforms.

Hyundai planned to have 6- electric vehicles available for testing in the end of 1992 year. The new hybrid-electric FGV-1 was exposed in the Seoul Motor Show since 1995. The car featured full-time electric drive technology. Hyundai produced its second generation hybrid-electric vehicle in 1999. The company is using the “parallel” type design, which uses either the ICE or the electric motor.